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Re: House of Fraser in trouble...
Pop goes another one:
Quote:
Quote from The Sun: LAURA Ashley has collapsed into administration after talks to rescue the chain failed due to the coronavirus, putting 2,700 jobs at risk.
The clothing and furnishing retailer has been struggling with tough high street conditions and recently warned that it needed a £15million loan to survive.
It had been doing well during the seven weeks to March 13, with trading up 24 per cent on the same period a year earlier.
However, it said the coronavirus has "had an immediate and significant impact on trading, and ongoing developments indicate that this will be a sustained national situation".
It added that its main shareholder MUI Asia Limited won't be able to step in with the money which is needed in time.
Laura Ashley said it hired advisers from PricewaterhouseCoopers (PwC) to oversee the administration on Tuesday.
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If the whole country gets shut down there'll be many more failures like this as many retailers, pubs, restaraunts and hotels are teetering on the brink.
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History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
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